Thames Water's Last Ditch Effort: A Desperate Bid for Control Thames Water, the UK's largest water supplier, faces the specter of nationalization as its lenders scramble to salvage a deal that would prevent government takeover.
The consortium of lenders, led by London & Valley Water, is considering offering a "golden share" to appease government concerns and avoid the fate of other privatized companies, such as Royal Mail.
The golden share proposal is a nod to the power dynamics at play in the UK's water industry, where water has long been seen as a strategic resource warranting special treatment.